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The chairman of National Sorghum Producers says sorghum basis has fallen almost a dollar from last harvest because sorghum still faces a 25% Chinese tariff and China buys far less than in 2016 and 2017. He also said growers need a farm bill this year.
Weaker sorghum basis lowers local cash values and reflects reduced export demand from China, which keeps domestic sorghum prices under pressure relative to futures.
brownfieldagnews.comNov 14, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
